NEW YORK--(EON: Enhanced Online News)--Medidata
(NASDAQ:MDSO), the leading global provider of cloud-based solutions and
data analytics for clinical research, today announced that it plans to
add regulated content and document management capabilities to the Medidata
Clinical Cloud®. In expanding its industry-leading
technology platform, Medidata intends to eliminate system silos,
providing customers with the ability to manage all content, data and
workflows in a single, integrated platform that meets the most rigorous
usability, scalability, performance and security requirements.

“The highly regulated life sciences industry requires the most
advanced security and enterprise-grade tools, and we’re excited to
partner with Medidata to enable the creation of clinical solutions built
on Box Platform that manage both regulated and non-regulated content all
in one single application.”

Medidata has agreed to acquire CHITA,
a cloud-based content management and collaboration system built on Box
Platform, a suite of enterprise-grade content management and
collaboration APIs from Box. CHITA allows users to create, store, view,
edit and jointly work on both regulated and non-regulated content in a
single application with cutting-edge UX capabilities. In addition,
Medidata will partner with Box
to develop a suite of breakthrough products for regulated document
management built on Box Platform, including electronic trial master file
(eTMF) and standard operating procedure (SOP) software solutions. The
new offering will be integrated into the Medidata Clinical Cloud
platform, enabling life sciences organizations to view and access
clinical operations data in a unified system—simplifying collaboration
between sponsors, sites and contract research organizations (CROs).

“We’re excited to add a new dimension to the powerful architecture that
has cemented the Medidata Clinical Cloud as the industry standard for
clinical trial technology driving scientific breakthroughs,” said Tarek
Sherif, Medidata’s chief executive officer. “The life sciences industry
has long struggled with manual, siloed processes for document and
content management, creating significant challenges that delay trial
timelines and impact overall time to market. Adding document and content
management solutions to our platform—leveraging the combined strengths
of Medidata, CHITA and Box—will address those challenges, delivering a
seamlessly integrated and intuitive user experience. Together, these
solutions will provide access to real-time data, enhance collaboration
between sponsors, sites and CROs, and accelerate execution to ultimately
speed up drug development and the delivery of new medicines to patients.”

Box is a leader in enterprise content management for payors, providers
and global life sciences companies around the world. Over 69,000
businesses trust Box to manage and secure critical information in the
cloud, including leading life sciences companies GSK, AstraZeneca,
Boston Scientific and Edwards Life Sciences. Headquartered in Redwood
City, CA with offices worldwide, the company supports the digital
transformation of over 650 life sciences organizations, including 12 of
the top 15 global pharmaceutical, CROs, medical device and biotechnology
companies.

“The need for organizations to operate in a modern way is more important
than ever before,” said Jeetu Patel, chief strategy officer and SVP of
Box. “The highly regulated life sciences industry requires the most
advanced security and enterprise-grade tools, and we’re excited to
partner with Medidata to enable the creation of clinical solutions built
on Box Platform that manage both regulated and non-regulated content all
in one single application.”

Kevin Barrett, CEO of CHITA, added, “Our vision for CHITA stemmed from a
keen understanding of the intricacies and pain points of content
management in clinical trials today. That’s why we worked closely with
Box to develop an integrated, extremely intuitive and user-friendly
system that can accommodate all document types, both regulated and
non-regulated. Now, in joining Medidata—the industry’s leading clinical
trial technology company and a trusted strategic partner to nearly 800
life sciences companies worldwide—we are able to enhance our offering
even further, leveraging Medidata’s deep industry expertise to break
into the eTMF market.”

Founded by life sciences technology veterans from Elan Corporation,
blended with world-class experience in cloud-based content management,
CHITA provides a unique way to securely create, collaborate, manage and
share documents, as well as comprehensively search across all files, in
real time. The solution is also accessible via an easy-to-use mobile
app, simplifying on-the-go document management workflows. CHITA’s
secure, fully-validated system is 21 CFR, Part 11 and Part
820-compliant, and provides pre-configured SOPs and built-in training
tools for streamlined user compliance validation and assurance.

The purchase agreement between Medidata and CHITA includes purchasing
CHITA’s parent holding company for an undisclosed all-cash initial
purchase price, along with earnout payments contingent on the
performance of the business. The completion of the CHITA acquisition
remains subject to customary closing conditions, and is expected to
close during February 2017.

Founded in 2005, Box (NYSE:BOX) is transforming the way people and
organizations work so they can achieve their greatest ambitions. As a
leading enterprise content platform, Box helps more than 69,000
businesses, including AstraZeneca, General Electric, P&G and The GAP
securely access and manage their critical information in the cloud. Box
is headquartered in Redwood City, CA, with offices across the United
States, Europe and Asia. To learn more about Box, visit http://www.box.com/.

About CHITA

CHITA is introducing a breakthrough content management and collaboration
platform that is fully integrated with Box platform that will allow
users to create, store, view, collaborate on and edit both regulated and
non-regulated content in a single application. CHITA is 21CFR, Part 11
and Part 820-compliant and provides the ideal environment for life
sciences workflow management. It also features pre-configured Standard
Operating Procedures (SOPs) and Read & Acknowledge training record
management. This new solution is designed to address the significant
hurdles inherent in compliance validation and assurance, helping life
sciences companies to manage their content needs more effectively.

The Medidata Clinical Cloud® brings a new level of quality
and efficiency to clinical trials that empower our customers to make
more informed decisions earlier and faster. Our unparalleled clinical
trial data assets provide deep insights that pave the way for future
growth. The Medidata Clinical Cloud is the primary technology solution
powering clinical trials for 17 of the world's top 25 global
pharmaceutical companies, from study design and planning through
execution, management and reporting.

Cautionary Statement

Certain statements made in this press release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve significant risks and uncertainties
about Medidata Solutions, Inc. (“Medidata”), including but not limited
to statements about the expected closing of the acquisition and the
effect of the acquisition. Such statements are based on management’s
current expectations and are subject to a number of uncertainties and
risks, which could cause actual results to differ materially from those
described in the forward-looking statements. For additional disclosure
regarding these and other risks faced by the Company, see disclosures
contained in Medidata’s public filings with the Securities and Exchange
Commission, including the “Risk Factors” section of Medidata’s Annual
Report on Form 10-K for the year ended December 31, 2015. You should
consider these factors in evaluating the forward-looking statements
included in this press release and not place undue reliance on such
statements. The forward-looking statements are made as of the date
hereof, and Medidata undertakes no obligation to update such statements
as a result of new information.

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